Federated Hermes Inc. Lowers Stock Holdings in BellRing Brands Inc. $BRBR

Federated Hermes Inc. lessened its position in BellRing Brands Inc. (NYSE:BRBR) by 21.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 674,267 shares of the company’s stock after selling 189,321 shares during the quarter. Federated Hermes Inc.’s holdings in BellRing Brands were worth $39,060,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. TT International Asset Management LTD lifted its position in shares of BellRing Brands by 199.8% during the second quarter. TT International Asset Management LTD now owns 73,616 shares of the company’s stock worth $4,265,000 after purchasing an additional 49,064 shares in the last quarter. Independence Bank of Kentucky increased its stake in BellRing Brands by 91.5% during the 2nd quarter. Independence Bank of Kentucky now owns 22,634 shares of the company’s stock worth $1,311,000 after buying an additional 10,814 shares during the period. Vontobel Holding Ltd. increased its stake in BellRing Brands by 216.1% during the 2nd quarter. Vontobel Holding Ltd. now owns 18,006 shares of the company’s stock worth $1,043,000 after buying an additional 12,310 shares during the period. MRA Advisory Group acquired a new stake in BellRing Brands during the 2nd quarter worth approximately $448,000. Finally, Redwood Wealth Management Group LLC acquired a new stake in BellRing Brands during the 2nd quarter worth approximately $852,000. Institutional investors and hedge funds own 94.97% of the company’s stock.

Insiders Place Their Bets

In other BellRing Brands news, insider Douglas J. Cornille sold 3,970 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $30.93, for a total transaction of $122,792.10. Following the sale, the insider owned 54,812 shares of the company’s stock, valued at approximately $1,695,335.16. This trade represents a 6.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.07% of the company’s stock.

BellRing Brands Price Performance

BellRing Brands stock opened at $30.48 on Tuesday. The stock has a market cap of $3.65 billion, a PE ratio of 18.14, a P/E/G ratio of 4.17 and a beta of 0.67. The stock’s fifty day moving average is $31.45 and its two-hundred day moving average is $43.41. BellRing Brands Inc. has a 1-year low of $22.45 and a 1-year high of $80.67.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings data on Tuesday, November 18th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.03). BellRing Brands had a net margin of 9.33% and a negative return on equity of 95.87%. The business had revenue of $648.20 million during the quarter, compared to analysts’ expectations of $633.21 million. During the same quarter in the previous year, the company posted $0.51 EPS. The company’s revenue was up 16.6% compared to the same quarter last year. On average, research analysts expect that BellRing Brands Inc. will post 2.23 earnings per share for the current fiscal year.

BellRing Brands declared that its board has approved a share buyback plan on Tuesday, September 2nd that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 7.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts have commented on BRBR shares. Mizuho dropped their price target on shares of BellRing Brands from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Monday, November 24th. JPMorgan Chase & Co. decreased their target price on BellRing Brands from $52.00 to $45.00 and set an “overweight” rating for the company in a report on Thursday, October 9th. Zacks Research downgraded BellRing Brands from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 1st. TD Cowen reaffirmed a “hold” rating and issued a $31.00 price target (down previously from $37.00) on shares of BellRing Brands in a research report on Thursday, November 20th. Finally, DA Davidson set a $38.00 price objective on BellRing Brands in a research note on Thursday, November 20th. Eleven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.53.

About BellRing Brands

BellRing Brands, Inc, together with its subsidiaries, provides various nutrition products in the United States. The company offers ready-to-drink (RTD) protein shakes, other RTD beverages, powders, nutrition bars, and other products primarily under the Premier Protein and Dymatize brands. It distributes its products through club, food, drug, mass, eCommerce, specialty, and convenience channels.